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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUS Mint to strike "final circulating penny" on Wednesday, Nov. 12th
It's the end of an era kids...
https://www.yahoo.com/news/articles/us-mint-strike-final-circulating-140151846.html
The United States plans to strike its last penny for circulation, part of an effort to retire the coin that has been used over 200 years and now costs more to produce than it is worth.
At an event on Wednesday, Nov. 12, U.S. Treasury Secretary Scott Bessent and U.S. Treasurer Brandon Beach will mark the striking of the "final circulating penny," the end of production for a coin that's been used since the 1790s. The Treasurer and Secretary are set to formally stamp the last circulating penny on Wednesday afternoon around 2 p.m.
While the penny "remains legal tender and will retain its value indefinitely," according to the Treasury Department, the humble one-cent coin will no longer be minted. There are currently an estimated 300 billion pennies in circulation "far exceeding the amount needed for commerce," Treasury said in a statement.

underpants
(193,864 posts)PeaceWave
(2,465 posts)no_hypocrisy
(53,744 posts)Paying more sales tax, etc.
PeaceWave
(2,465 posts)Jilly_in_VA
(13,485 posts)and hard on us small business people. My husband and I run a small (very) gem, mineral, and jewelry business. In Virginia we are required to collect and pay sales tax (we don't at shows we go to out of state because we don't do more than one in each state). VA sales tax is generally 6.5% although I think it's higher in beltway counties. It generally comes out to odd amounts. I don't really want to round up, but rounding down hurts our profit, which is small enough as it is.
(As we said at the show in TN last weekend, "We don't charge sales tax bere because we don't have to pay your governor." )
MineralMan
(150,208 posts)90% of my sales were on the internet and to customers out of my state or out of the USA. I only had to pay sales tax on sales made in California. My answer was not to charge anyone sales tax. At the end of the year, I calculated how much sales tax I owed to the State of California and sent it in. It didn't amount to a hill of beans to my profits, really, and it was easier than dealing with charging my customers. I just took the total California sales and multiplied it by the current sales tax rate. So, I overpaid some. I got audited one year. The nice man showed up at my place of business, and I showed him how it calculated the tax I owed and that was how much I paid. He said, "You overpaid. I can issue you a refund." I said not to bother. It wasn't enough money to worry about. I never heard from the sales tax people again.
bif
(26,456 posts)They last 20 or 30 years!